4 Ways Scam Artists Try to Snatch Your Bank Funds

 

Don’t be fooled by bank-scam charlatans, warns Victory State Bank.

Such fraudsters may seek to steal your money by impersonating legitimate financial institutions, explains Staten Island’s only community-based commercial bank.

Common banking scams highlighted by the federal government, include such tactics as:

  • FAKE CHECK SCAMS, where a scam artist creates counterfeit checks that look legitimate, with watermarks, routing numbers, and the names of real financial institutions. They then try to deposit them in banks, use them as part of other frauds against consumers, or use them to pay companies for products or services. 
  • UNSOLICITED CHECK FRAUD, where a scammer may send you a check that you didn't have a legitimate reason to receive. Unfortunately, if you cash it, you may be authorizing the purchase of items you didn't ask for, signing up for a loan, or something else you didn't ask for. The Federal Trade Commission offers tips to help you avoid being a victim of these scams, and recommends what to do if you have been a victim.
  • AUTOMATIC WITHDRAWALS. A company sets up automatic withdrawals from your account that you didn’t approve.
  • PHISHING. E-mail messages that ask you to verify your bank account number or debit card PIN. By clicking on the link or replying to the email with your account number, you are giving a scammer access to your financial accounts. 

 

 

 

About Victory State Bank

 

VSB Bancorp, Inc. (OTCQX: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office in the community of Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online at www.VictoryStateBank.com.

 

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